Question

All of the following related to Title IV: Enhanced Financial Disclosures, Except for A. Annual reports must contain an assessment of the effectiveness of internal controls B. The external auditor must attest to and report on the assessment made by management C. A statement must be made indicating that managers are responsible for establishing and maintaining adequate internal controls D. Audit committees must establish whistle-blowing mechanisms

Answer 1

Title IV enhanced financial disclosures includes

1. Annual reports must include internal control report stating that management is responsible for adequate internal controls structure

& assessment  of effectiveness of controls .

2. External auditor must attest accuracy of companys statement that internal controls are present and effective.

Hence option (D) Audit committee must establish whistle blowing mechanism is answer.